Cast your mind only a couple of years back into the past and consider how the vast majority of client anti-money laundering (AML) checks and ID Verifications were performed. Most law practices required clients to come into their office to present admin staff with both a copy of their ID and address. For conveyancers there was the added task of understanding a client’s source of funds, verifying their risk profile, as well as collating and analysing bank statements to satisfy the AML requirements.
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